Google posts its first $100 billion year

Google has joined the $100 billion club.Alphabet, the parent company of Google, reported Thursday that it topp...

Posted: Feb. 1, 2018 1:35 PM

Updated: Feb. 2, 2018 4:25 AM

Google has joined the $100 billion club.

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Alphabet, the parent company of Google, reported Thursday that it topped $100 billion in annual sales for the first time in Google's 20-year history.

The company posted $32.3 billion in sales for the fourth quarter, pushing its total annual revenue to $110 billion. That's up from about $90 billion in 2016.

However, the results were marred by a rare loss for the company. It took a $9.9 billion charge because of the tax bill signed into law last month. The charge is due to a one-time tax on foreign earnings. Other companies, including Microsoft, have taken similar charges.

Alphabet's stock fell as much as 5% in after hours trading following the earnings report.

Amazon first hit $100 billion in annual sales in 2015. Apple hit it in 2011 and now can pull in nearly that amount in a single quarter.